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The Exchange Rate Response of Credit-Constrained Exporters: The Role of Location
2016
Theoretical Economics Letters
This paper analyses the exchange rate response of credit-constrained exporters and highlights location-driven balance sheet effects residing both on the real side and on the financial side of the economy. A model focusing the location of production relative to both credit markets and to the first and the second hand market for capital inputs introduces a number of balance-sheet driven exchange rate effects. When it comes to location, we consider four regimes, referred to as a developed, a
doi:10.4236/tel.2016.65096
fatcat:4iwbqowe4reubmuwhzbjl7tcui